SG Americas Securities LLC Grows Stock Holdings in Orrstown Financial Services Inc (NASDAQ:ORRF)

SG Americas Securities LLC raised its holdings in shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) by 198.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,399 shares of the bank's stock after acquiring an additional 16,232 shares during the period. SG Americas Securities LLC owned about 0.13% of Orrstown Financial Services worth $732,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new stake in Orrstown Financial Services in the fourth quarter worth $47,000. Summit Investment Advisors Inc. increased its holdings in shares of Orrstown Financial Services by 21.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,942 shares of the bank's stock worth $71,000 after buying an additional 349 shares during the period. Quantbot Technologies LP bought a new stake in shares of Orrstown Financial Services in the 4th quarter valued at about $127,000. KLP Kapitalforvaltning AS purchased a new stake in Orrstown Financial Services during the 4th quarter valued at about $132,000. Finally, GAMMA Investing LLC grew its position in Orrstown Financial Services by 3,994.9% during the 1st quarter. GAMMA Investing LLC now owns 4,832 shares of the bank's stock worth $161,000 after acquiring an additional 4,714 shares during the last quarter. 44.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORRF has been the subject of several recent research reports. Raymond James Financial assumed coverage on Orrstown Financial Services in a research report on Thursday, April 10th. They issued an "outperform" rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods lowered their price target on shares of Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Hovde Group raised their price target on shares of Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Orrstown Financial Services has an average rating of "Buy" and an average price target of $36.80.

Orrstown Financial Services Trading Up 0.9%

Shares of Orrstown Financial Services stock traded up $0.28 during midday trading on Tuesday, reaching $31.64. 124,034 shares of the company's stock traded hands, compared to its average volume of 127,366. The stock has a 50 day moving average of $29.78 and a 200-day moving average of $32.20. Orrstown Financial Services Inc has a 12 month low of $25.28 and a 12 month high of $41.99. The company has a market cap of $617.30 million, a PE ratio of 16.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. The firm had revenue of $60.39 million during the quarter, compared to analysts' expectations of $51.83 million. During the same period last year, the company posted $0.88 EPS. As a group, equities analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.29%. Orrstown Financial Services's dividend payout ratio (DPR) is 53.06%.

Orrstown Financial Services Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.